A College Student’s Guide to Credit Cards
BY: Savanna Pruitt
According to the U.S. Government Accountability Office, “one-third of students had credit cards before they entered college, and another 46 percent acquired them during the first year.” Unfortunately, lots of college students get credit cards without knowing the proper way to use them and end up in financial trouble. If you’re a college student, here are a few basics you need to be aware of if you’re planning on using a credit card.
1. Don’t sign up for a credit card for the free swag. It can be tempting to fill out a quick credit application form at a mall kiosk in exchange for a cool t-shirt or some other prize. Don’t let “free” gifts persuade you to sign up for a credit card— you’ll usually end up paying for them in the long run in the form of fees and inter...